Sunday, April 3, 2011
Category:
Home Improvements
According to the Council of Mortgage Lenders, new figures have revealed a slight increase in mortgage lending in February, following a ‘particularly downbeat January’.
The number of loans for house purchase reportedly stood at 32,300 in February, which marked an eight percent increase from January. Furthermore, in February the value of loans for house purchase stood at £4.6 billion, which marked a five percent increase from January. However, both the number of loans for house purchase and the value of these loans were found to be twelve percent down from February of last year.
The Council of Mortgage Lenders’ figures also revealed a five percent increase in the volume of remortgage lending from 23,200 in January to 24,300 in February. There was reportedly no change in the value at £2.9 billion; however, both volume and value were three percent down from February 2010.
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Homeowners who have recently purchased a new property could consider taking out a secured loan for
home improvements if they are looking for funds. One of many finance options available, a secured loan for this purpose could allow borrowers to embark upon an array of projects in and around their new home. For example, repairs could be carried out and borrowers could also put their personal stamp on their new property by means of redecoration and refurbishment if desired.
